Apart from the USDA’s World Agricultural Supply and Demand Estimates report, and domestic weekly grain trade and producer deliveries data, this was a fairly quiet week in the South Africa agricultural commodities markets.
The grains and oilseeds prices ended the week on a mixed footing. White maize and oilseeds closed in positive territory, although marginal, up by an average of 1% from the previous week. Meanwhile, yellow maize and wheat lost ground with bearish pressure emanating from lower international prices.
The fruit and vegetable prices were volatile throughout the week with lower stock levels underpinning the market. The SAFEX beef carcass market remained flat this week due to thinly traded volumes.
Next week, the National Crop Estimate Committee will release its fifth production estimates for winter crops. This could show a decline in wheat crop estimates following drier weather conditions in the Western Cape province, which in turn negatively affected the yields.
Click here to view the full Agbiz South African Agricultural Commodities Weekly Wrap.